LONDON: The Apax X Fund, in which AGA is a limited partner, has signed a definitive agreement to acquire a majority ownership stake in CyberGrants, a leading provider of Software-as-a-Service (SaaS) solutions for corporate social responsibility (CSR), employee engagement, and volunteer management.
The transaction is expected to close in Q3 2021, subject to customary closing conditions.
On a look through basis, AGA is expected to invest up to $13.9m in the company, depending on final closing arrangements.
Note that this figure relates to AGA’s look through position of Apax X’s overall investment in CyberGrants and is stated before taking into account any closing adjustments and translated based on the latest exchange rates available where applicable.
CyberGrants delivers market-leading CSR software solutions to some of the most respected companies and foundations in the world, helping them quickly activate their charitable causes to realise strategic, measurable outcomes.
Its single platform solution enables customers, including more than half of the Fortune 100 companies, to easily scale their CSR programmes and quickly transform grants and giving initiatives into impact that closely aligns with their corporate mission and values. CyberGrants’ network connects 10 million employees and their employers with 650,000 not-for-profit organisations.
Since its inception, Apax has been committed to creating a positive impact on the people and communities in which it operates. In 2006, the firm established the Apax Foundation to focus on grants and employee donations to enable social mobility in underserved communities.
This experience, coupled with the Apax Tech team’s deep expertise in enterprise software, makes CyberGrants a unique platform investment for the firm. Apax X will look to support CyberGrants as it continues to enhance its product suite, attract new customers, and pursue a broader impact-oriented growth strategy.
AGA, whose shares are listed on the London Stock Exchange, provides investors with access to a diversified portfolio of private equity funds advised by Apax, as well as a focused portfolio of debt and equity investments (“Derived Investments”). In July 2019, AGA made a commitment of c.$450m2 to Apax X.